Filing Flows › Firefly Aerospace (FLY) › Q1 2026 › vs Q1 2025
Firefly Aerospace (FLY) Q1 2026 vs Q1 2025 (year over year)
Firefly Aerospace's revenue rose $25.0M (+45%) from $55.9M in Q1 2025 to $80.9M in Q1 2026. The biggest changes: Spacecraft Solutions Revenue +$16.9M (+33%); Launch Revenue +$8.1M (+156%).
Firefly Aerospace, Q1 2026: revenue $80.9M (+45% year over year), operating margin -118.3%, net loss $96.7M, operating cash flow −$62.5M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Spacecraft Solutions Revenue | $67.6M | $50.7M | $16.9M | +33% |
| Launch Revenue | $13.3M | $5.2M | $8.1M | +156% |
| Revenue | $80.9M | $55.9M | $25.0M | +45% |
| Net loss | $96.7M | $60.1M | $36.6M | +61% |
| Costs & expenses | $178M | $116M | $61.6M | +53% |
| Operating costs | $177M | $114M | $62.1M | +54% |
| Interest & other, net | $941K | $1.5M | −$608K | -39% |
| Income tax | $67K | $0 | $67K | — |
| Cost of revenue | $63.4M | $53.6M | $9.8M | +18% |
| Research & development | $67.5M | $48.0M | $19.5M | +41% |
| SG&A | $45.6M | $12.8M | $32.9M | +258% |
| Operating cash sources | $96.7M | $60.1M | $36.6M | +61% |
| Depreciation & amortization | $15.9M | $4.0M | $11.9M | +299% |
| Share-based compensation | $12.5M | $431K | $12.1M | 29× |
| Working capital & other | $5.7M | −$871K | $6.6M | — |
| Cash used in operations | $62.5M | $56.5M | $6.0M | +11% |
| Net loss absorbed | $96.7M | $60.1M | $36.6M | +61% |
Questions
How much did Firefly Aerospace's revenue grow year over year in Q1 2026?
Firefly Aerospace's revenue rose $25.0M (+45%) from $55.9M in Q1 2025 to $80.9M in Q1 2026.
What drove Firefly Aerospace's revenue change in Q1 2026?
Spacecraft Solutions Revenue +$16.9M (+33%); Launch Revenue +$8.1M (+156%).